Louisiana Light • 2 days | 79.59 | +1.63 | +2.09% | |||
Bonny Light • 1 day | 81.80 | +0.14 | +0.17% | |||
Opec Basket • 2 days | 83.40 | +0.65 | +0.79% | |||
Mars US • 27 days | 79.71 | -2.05 | -2.51% | |||
Gasoline • 12 mins | 2.300 | +0.016 | +0.71% |
Bonny Light • 1 day | 81.80 | +0.14 | +0.17% | |||
Girassol • 1 day | 82.56 | +0.13 | +0.16% | |||
Opec Basket • 2 days | 83.40 | +0.65 | +0.79% |
Peace Sour • 4 hours | 61.61 | +1.45 | +2.41% | |||
Light Sour Blend • 4 hours | 65.46 | +1.45 | +2.27% | |||
Syncrude Sweet Premium • 4 hours | 70.06 | +1.45 | +2.11% | |||
Central Alberta • 4 hours | 63.61 | +1.45 | +2.33% |
Eagle Ford • 2 days | 72.89 | +0.87 | +1.21% | |||
Oklahoma Sweet • 2 days | 72.75 | +1.25 | +1.75% | |||
Kansas Common • 3 days | 65.00 | -0.75 | -1.14% | |||
Buena Vista • 3 days | 80.98 | -0.43 | -0.53% |
The hype around self-driving taxis…
Oil prices edged lower on…
James Burgess
James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…
In 2009 the ICC had to resolve a dispute between Turkey and Iran over gas supplies, and Turkey was awarded $800 million compensation related to gas purchases from Iran.
Now Turkey are once again taking Iran to international arbitration over the prices that they pay for imported gas.
Turkey imports 10 billion cubic metres of gas each year from Iran, making it their second largest supplier after Russia; but they are not happy. Energy Minister Taner Yildiz has complained that the price is too high. "The prices at which we buy gas from Iran are above international prices. Our arbitration application is based on just reasons."
Although Ankara reject the claim, and Majid Boujarzadeh, spokesman for Iran's National Gas Company, reminds Turkey that “Both sides should remain committed to the contract, which has an article regarding arbitration.”
Boujarzadeh also wanted to make clear that, "This issue is not related to the sanctions imposed on Iran”.
In fact Turkey is looking to agree a waiver from the US sanctions on any institutions dealing with Iran’s central bank for its sole oil refiner, Tupras. Turkey buys about 30 percent of its oil from Iran, and whilst it has approached Saudi Arabia as an alternative source of oil, it must continue trading with Iran until a deal can be secured.
By. James Burgess of Oilprice.com
James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…
U.S. Crude Production Breaks Records
Oil Prices Fall Further As U.S. Crude Oil Inventories See Major Build
Second Israel-Linked Vessel Seized in the Gulf of Aden
OPEC Said To Consider Additional 1 Million Bpd Output Cut
Crude Oil Inventory Balloons but Gasoline, Diesel Inventories Fall
ADVERTISEMENT
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Trading and investing carries a high risk of losing money rapidly due to leverage. Individuals should consider whether they can afford the risks associated to trading.
74-89% of retail investor accounts lose money. Any trading and execution of orders mentioned on this website is carried out by and through OPCMarkets.
Merchant of Record: A Media Solutions trading as Oilprice.com